SUMMARY

The article from Business Today, published on June 9, 2025, titled "Rs 500 must go...': Andhra Pradesh Chief Minister N. Chandrababu Naidu links big notes to corruption, backs Rs 100 and Rs 200,". He calls to abolish high-denomination currency notes like the Rs 500 to curb corruption.

In an exclusive interview with India Today, Naidu stated, “All big currencies should be abolished. Only then can we eradicate corruption,” advocating for only Rs 100 and Rs 200 notes to remain in circulation.

He echoed sentiments from the 2016 demonetisation, when Rs 500 and Rs 1,000 notes were banned to tackle black money, though new Rs 500 notes were later introduced. His remarks come amid a viral YouTube video by Capital TV claiming a phase-out of Rs 500 notes by March 2026, which garnered over 500,000 views and caused public anxiety. Naidu also distanced himself from the term “freebies” for welfare schemes, linking them to legacy and necessity, and highlighted the growing wealth gap in India.